If a Government Enacts a Price Floor on Agricultural Products

question 252

Multiple Choice

If a government enacts a price floor on agricultural products to protect wheat farmers, the result is likely going to be

• A)an increase in price with a surplus of wheat.
• B)an increase in price with a shortage of wheat.
• C)a decrease in price with a surplus of wheat.
• D)a decrease in price with a shortage of wheat.

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Definitions:

Continental Slope

The steep slope where the continental shelf drops down to the deep ocean floor.

Continents Position

Refers to the geographical location of the Earth's continents, which can change over geological time due to the process of continental drift.

Ocean Basins

Large depressions on the Earth's surface that are filled with ocean water, forming the basic divisions of the world's oceans.

Coral Reefs

Marine structures made of the calcium carbonate skeletons of coral organisms, which are home to diverse ecosystems and protect coastlines from erosion.